Wednesday, October 31, 2018

Early retirement- the latest trend, Thanks to Internet - Tikona

What is early retirement?
When a person decides to leave their full time job earlier than the average retirement age in their country, it is called early retirement. People generally retire at the age of 65, the average retirement age in the world is about 62-65 years. However, there is a new trend among millennials to retire at an earlier age, anywhere between 35 and 50. The key is to be financially stable before you take the leap.

How the internet makes it possible for you to retire early?
Earning money online has now become a common and sustainable way to earn a living. With the increase in social media and internet users, the internet has become an added platform to allow you to showcase your talent and build an audience. You can become a food critic, a travel blogger, fashion blogger, etc. using the internet and can operate your online account from anywhere in the world.

Retiring early gives you more freedom to manage your time according to your liking. You can pursue your passions and explore new interests. You can retire from your 9-5 job and start a blog or an Instagram page or a YouTube channel in an area that interests you. If you develop a big fan following online and you have expert knowledge or experience in a particular topic you can earn money by coaching people, holding workshops and giving lectures. Another way the internet helps you to retire early is by making some extra money on the side on sites like Airbnb. You can put your house on Airbnb and earn money while you travel or you can rent out just one room if you want.

How much should you save before retiring early?
More and more millennials are following the FI/RE or FIRE (Financial Independence, Retiring Early) movement to be part of a community that concentrates on living intentionally and managing your finances in such a way that you save enough to retire early. A common suggestion by leaders of the FIRE movement suggest that we save about 50%-70% of our yearly income for about 15 – 20 years before you leave your full-time job. This is just a guideline and you can tailor your savings percentage depending on how much your annual living expenditure is and at what age you want to retire.

Things to take into consideration before retiring early
·         As mentioned earlier, you should have enough money in your savings to support you and your family’s daily needs. Depending on what kind of lifestyle you want to lead after you retire, you need to save accordingly.
·         Invest your money in such a way that you can earn a little from it every month and live off the dividends.
·         You should be ready to cut down a little on your monthly spending.
·         Any unpaid loans and debt of any kind should be taken care of in advance or money should be kept aside specifically for it

The internet can help you make a career online by allowing you to do what you love and help improve other’s lives in a positive way. With a little planning and budgeting you can live a more fulfilled and stress-free life and experience joy even in simple things. If you are going to rely on the internet for your work and entertainment, you need to opt for a secure internet connection and get a service provider like Tikona that offers the best broadband service for your home and office to help you improve your online experience and increase productivity. Tikona High Speed Internet has some of the best internet plans with secured connection at great prices, you can check out details about their services here.

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